Panel to select new IDBI chief
By Mumbai: | 09 Jun 2003
Mumbai: The central government has appointed a three-member expert committee to zero in on a successor to Industrial Development Bank of India (IDBI) chairman and managing director P P Vora.
A committee consisting of Reserve Bank of India (RBI) deputy governor Rakesh Mohan, National Institute of Bank Management director M G Bhide and chief economic advisor to the Centre Ashok Lahiri has been constituted to select a successor to Vora.
Vora, who was appointed for a two-year term, took charge as CMD of IDBI on 5 September 2001. He is completing his term by end-September 2003. Finding a successor to Vora gains significance, as the financial institution is in the process of converting itself into a corporate bank.
This is likely to be one of the important considerations of the panel in the selection process, say sources. Besides, the new candidate should have a minimum two-year tenure before superannuation.
